OVERVIEW We are providing a market update on the CreditWatch placement of our ratings on all of the bonds issued out of Michigan Finance Authority's series XVII indenture. The ratings on the series XVII bonds remain on CreditWatch negative. NEW YORK (Standard&Poor's) June 4, 2012--Standard&Poor's Ratings Services today stated that its 'AA (sf)' ratings on 19 classes of bonds issued out of the Michigan Finance Authority's (formerly MHESLA's) series XVII indenture remain on CreditWatch with negative implications, where we placed them on Aug. 9, 2010. On May 4, 2012, we indicated that we had requested from the issuer an enhanced level of data reporting for this trust. We have since received additional data for the trust
